Our Journey
Awash Insurance embarks on a full corporate rebrand after achieving capitalization of Birr 4 billion in subscribed Capital. We are embarking on the construction of a brand new headquarters facility, kitted with a state-of-the-art Disaster Recovery Site and a Redundant Data Center.
Awash celebrates its 25th anniversary and finalises strategy implementation with impressive growth in terms of paid-up capital, total assets, numbers of branches and human capital. Awash surpassed Birr 1B in GWP and commenced its strategic plan, Transforming AIC: Vision 2030.
Awash prepares its third strategic plan while GWP surpasses 500M marks. IFRS compliance begins and Awash pledges Birr 12M to rehabilitate internally displaced citizens.
Awash marks its 20th anniversary surpassing a net profit before tax of Birr 50M with an additional Birr 10M in capital invested in various sectors.
Achieving new benchmarks: Upon achieving total assets totaling 125M and GWP at 140M, we commissioned the Awash Insurance Twin Towers being the frontrunners in the industry to own a state-of-the -art Headquarters. The formulation of the second strategic plan of the company was coupled with the implementation of the GIIS
Awash Insurance Company celebrates 10 years of providing exemplary service. This ushered in the preparation of the first strategic plan covering the period between 2007 and 2011.
In the new millennium, Awash diversified its products through the introduction of life services. Our net profit before tax, as well as portfolio investment reached over Birr 10M, alongside a growing number of staff and branches countrywide.
Awash grew its capital from Birr 4.8M to Birr 15M and captured around 8% of market share of the total Insurance Market in Ethiopia. Paid up capital rose to almost Birr 20M.
The historic establishment of Awash began in 1994, with 456 shareholders and Birr 4.8M in paid-up capital. Within the first year alone, average return on paid up capital rose to 20% and subsequently, GWP showed steady growth over the period.